14 - Risk and Issue Management Flashcards
1
Q
What is risk management
A
Risk events
Understood and managed
Minimise threats
Maximise opportunities
2
Q
What is a risk?
A
An uncertain event
effect on a P3M
3
Q
What are the steps of risk management
A
ID
Analyse
Plan Response
Implement
4
Q
What are the responses to threats
A
Treat (reduce impact)
Tolerate (accept worth it)
Transfer (third party)
Terminate (Avoid)
Enhance (increase probability)
Exploit (make happen)
Share (third party)
Reject (Avoid)
